The JV will have an initial registered capital of HK300 million, and each of the exchanges will contribute HK$100 million to the new company to hold an equal stake.

The new company will develop index-linked equity derivative products and compile cross-border indices based on products traded on the three markets.

The HKEx said that the establishment of the JV will strengthen the competitiveness of Hong Kong, help promote the development of China's capital markets and the internationalization of the three exchanges.